Live Nation breaks records in 2023, eyes continued growth in 2024

Billboard reports Live Nation capped off a record-breaking year in 2023, surpassing even the highs of 2022 as artists returned to the road in full force following pandemic restrictions. The concert giant's revenue surged 36% to $22.7 billion, fueled by strong attendance, ticket sales, and sponsorships. Adjusted operating income (AOI) also jumped 32% to $1.86 billion, doubling the figure from 2019, the last full year before the pandemic.

Fan demand kept pace with the increased supply of live music, with concert attendance climbing 20.3% to 145.8 million. Notably, stadium shows saw a significant boost, growing 60% to 29 million thanks to tours by Metallica, Beyonce, and Luke Combs. Live Nation's international presence also grew, with the top 50 tours featuring 50% more international acts than five years ago.

The concerts division led the charge, with revenue increasing 39% to $18.76 billion. Venue Nation, Live Nation's owned and operated venues, saw attendance rise 13% to 55 million, with per-person spending at amphitheaters reaching over $40. Ticketmaster also saw strong growth, with revenue rising 32% to $2.96 billion and fee-bearing gross transaction value (GTV) increasing 30% to $36 billion.

Looking ahead, Live Nation expects continued growth across all its businesses, aiming for double-digit operating income and AOI growth again in 2024. With strong ticket sales and sponsorship commitments already secured, the company is poised to capitalize on the ongoing demand for live entertainment experiences.